Peru’s second fishing season of 2024 in the North-Centre of the country ended with a catch 2.42 million tonnes of anchoveta, while fishing operations continue in the south, according to IFFO, The Marine Ingredients Organisation.
“This fulfilment is a very strong signal about the resilience of the industry after a 2023 season marked in Peru by the El Niño phenomenon,” IFFO Market Research Director Dr Enrico Bachis said.
In an average year, Peru accounts for roughly 20% of global fishmeal and fish oil production.
IFFO’s market intelligence reports estimate a 26% increase in fishmeal production last year compared to 2023. This growth is primarily due to a recovery in the Peruvian landings, which were severely impacted by El Niño in 2023, it states.
It also advises that the rise in Peru’s cumulative supply has more than offset the production reduction observed in all the other regions. Europe has been the region with the poorer year-on-year performance, with a loss of more than 100,000 tonnes in comparison to 2023.
With regards to fish oil, cumulative production in 2024 is estimated to represent a 12% year-on-year increase. This smaller growth rate was due to the fact the outstanding recovery in the fish oil supply from Peru, was partially offset by significant drops in both Chile and Europe.
The US and African countries reported a year-on-year increase, but their tonnages are comparatively too small to influence the whole performance of the regions analysed by IFFO.
IFFO’s data is based on statistics shared by its members in Chile, Denmark, Faroe Islands, Iceland, Ivory Coast, Mauritius, Norway, the UK, the SA, Peru, South Africa and Spain. Together they account for 40% of global fishmeal production and 50% of fish oil output.
